Segment Information (Tables)

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Segment Reporting Information, by Segment

Operating results by segment, as well as Corporate & Other, were as follows:

	Three Months Ended June 30, 2020
	Annuities		Life		Run-off		Corporate & Other		Total
	(In millions)
Pre-tax adjusted earnings	$	205	$	60	$	(146)	$	(98)	$	21
Provision for income tax expense (benefit)	34		12		(31)		(12)		3
Post-tax adjusted earnings	171		48		(115)		(86)		18
Less: Net income (loss) attributable to noncontrolling interests	—		—		—		—		—
Less: Preferred stock dividends	—		—		—		7		7
Adjusted earnings	$	171	$	48	$	(115)	$	(93)	11
Adjustments for:
Net investment gains (losses)									(34)
Net derivative gains (losses)									(2,653)
Other adjustments to net income (loss)									144
Provision for income tax (expense) benefit									534
Net income (loss) available to Brighthouse Financial, Inc.’s common shareholders									$	(1,998)
Interest revenue	$	405	$	69	$	166	$	16
Interest expense	$	—	$	—	$	—	$	45

	Three Months Ended June 30, 2019
	Annuities		Life		Run-off		Corporate & Other		Total
	(In millions)
Pre-tax adjusted earnings	$	323	$	72	$	2	$	(85)	$	312
Provision for income tax expense (benefit)	58		14		—		(21)		51
Post-tax adjusted earnings	265		58		2		(64)		261
Less: Net income (loss) attributable to noncontrolling interests	—		—		—		—		—
Less: Preferred stock dividends	—		—		—		7		7
Adjusted earnings	$	265	$	58	$	2	$	(71)	254
Adjustments for:
Net investment gains (losses)									63
Net derivative gains (losses)									149
Other adjustments to net income (loss)									(55)
Provision for income tax (expense) benefit									(34)
Net income (loss) available to Brighthouse Financial, Inc.’s common shareholders									$	377
Interest revenue	$	470	$	116	$	339	$	17
Interest expense	$	—	$	—	$	—	$	48

	Six Months Ended June 30, 2020
	Annuities		Life		Run-off		Corporate & Other		Total
	(In millions)
Pre-tax adjusted earnings	$	594	$	73	$	(236)	$	(157)	$	274
Provision for income tax expense (benefit)	107		14		(51)		(34)		36
Post-tax adjusted earnings	487		59		(185)		(123)		238
Less: Net income (loss) attributable to noncontrolling interests	—		—		—		2		2
Less: Preferred stock dividends	—		—		—		14		14
Adjusted earnings	$	487	$	59	$	(185)	$	(139)	222
Adjustments for:
Net investment gains (losses)									(53)
Net derivative gains (losses)									4,249
Other adjustments to net income (loss)									(740)
Provision for income tax (expense) benefit									(726)
Net income (loss) available to Brighthouse Financial, Inc.’s common shareholders									$	2,952
Interest revenue	$	865	$	185	$	490	$	36
Interest expense	$	—	$	—	$	—	$	92

	Six Months Ended June 30, 2019
	Annuities		Life		Run-off		Corporate & Other		Total
	(In millions)
Pre-tax adjusted earnings	$	684	$	103	$	(44)	$	(157)	$	586
Provision for income tax expense (benefit)	124		20		(10)		(43)		91
Post-tax adjusted earnings	560		83		(34)		(114)		495
Less: Net income (loss) attributable to noncontrolling interests	—		—		—		2		2
Less: Preferred stock dividends	—		—		—		7		7
Adjusted earnings	$	560	$	83	$	(34)	$	(123)	486
Adjustments for:
Net investment gains (losses)									52
Net derivative gains (losses)									(1,154)
Other adjustments to net income (loss)									32
Provision for income tax (expense) benefit									224
Net income (loss) available to Brighthouse Financial, Inc.’s common shareholders									$	(360)
Interest revenue	$	891	$	213	$	615	$	34
Interest expense	$	—	$	—	$	—	$	95

Total assets by segment, as well as Corporate & Other, were as follows at:

	June 30, 2020		December 31, 2019
	(In millions)
Annuities	$	158,152	$	156,965
Life	22,299		21,876
Run-off	38,044		35,112
Corporate & Other	16,872		13,306
Total	$	235,367	$	227,259

Reconciliation of Revenue from Segments to Consolidated

Total revenues by segment, as well as Corporate & Other, were as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
	(In millions)
Annuities	$	1,052	$	1,194	$	2,203	$	2,311
Life	285		330		639		633
Run-off	332		527		825		1,003
Corporate & Other	37		42		79		85
Adjustments	(2,628)		277		4,317		(971)
Total	$	(922)	$	2,370	$	8,063	$	3,061